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County auditors, consultants propose LIT shifts to keep taxes neutral while moving funds for health care
Summary
Baker-Tilly summarized 2025 budget estimates and auditors proposed reallocating Local Income Taxes—raising Judicial LIT to 0.07% and Jail LIT to 0.27% while eliminating PTR LIT—to be tax-neutral for residents and move funding between county funds.
Paige Sansone of Baker-Tilly summarized the county’s 2025 budget, projected impacts and options for generating revenue without raising net tax burdens for residents. Auditor Diana Topping and consultant Stan Heil outlined a proposal to reallocate Local Income Tax (LIT) rates: raise the Judicial LIT to 0.07% and the Jail LIT to 0.27% by eliminating the Property Tax Relief (PTR) LIT, which they said would shift about half a million dollars out of the General Fund into Judicial LIT.
Auditor Topping stressed the Council’s responsibility to keep county finances healthy and said staff have prepared several options intended to be “net neutral for the taxpayers of Floyd County.” The meeting record shows the County holds roughly $80 million of hospital-related funds invested with the Community Foundation and that the fund’s maximum annual spend rate is 5 percent; Commissioner Danny Short asked that those funds be moved into the Non-Reverting Healthcare fund and requested the Council add the item to its September agenda for further consideration. Paige Sansone recommended an analysis of how the proposed LIT changes would affect property tax revenue.
Council members did not take a final vote on any LIT ordinance at the meeting; Topping and Heil presented options for the Council to analyze further and bring back for formal action.
